Nidlegy, currently in Phase-III clinical trials, is a new anti-cancer biopharmaceutical which is being developed by Philogen for the treatment of melanoma and non-melanoma skin cancers.

Under the terms of the agreement, Sun Pharma will have exclusive rights to commercialise Nidlegy for indications of skin cancers in the territories of Europe, Australia and New Zealand. Philogen will complete pivotal clinical trials for the product in Europe, pursue Marketing Authorization with the regulatory authorities and manufacture commercial supplies. Sun Pharma will be responsible for commercialization activities.

The two partner companies will share post-commercialization economics in about 50:50 ratio. Other financial terms were not disclosed. Philogen will retain the IP rights for Nidlegy for other territories and indications other than skin cancers.

Hellen De Kloet, business head - Western Europe and ANZ, Sun Pharma, said “We are delighted to partner with Philogen for Nidlegy, a close to market, new immunotherapy treatment in skin cancers. This collaboration is in line with our goal to bring innovative products to patients.

With the expected addition of Nidlegy to our existing Odomzo franchise, we will be well-positioned to provide patient solutions across a broad spectrum of skin cancers in various disease stages.”

Sun Pharmaceuticals Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.

The company reported net profit of Rs 1,837.8 crore in Q4 FY23 as compared with net loss of Rs 1,996.5 crore in corresponding quarter last year. Net sales jumped 15.71% to Rs 10930.6 crore in Q4 FY23 as against Rs 9446.7 crore recorded in Q4 FY22.

The scrip shed 0.62% to currently trade at Rs 962.05 on the BSE.